BMY vs JNJ: Correlation
Measured on weekly returns over the past three years, Bristol Myers Squibb (BMY) and Johnson & Johnson (JNJ) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and JNJ?
Over the past 3 years, BMY and JNJ moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.39 lands near the 3-year figure. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 222.8 %².
By 3-year correlation, JNJ places #6 of the 31 assets tracked against BMY. On 12-month performance JNJ holds a 6.4-point edge, +47.3% against +53.7%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.31 and 0.54. Note the risk asymmetry: BMY runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BMY vs JNJ: side by side
| BMY (Bristol Myers Squibb) | JNJ (Johnson & Johnson) | |
|---|---|---|
| 1-year return | +47.3% | +53.7% |
| 5-year return | +22.3% | +76.0% |
| Volatility (ann.) | 27.8% | 18.5% |
| Beta vs S&P 500 | 0.20 | 0.05 |
| Max drawdown (3Y) | -34.1% | -14.4% |
| Market cap | $136.8B | $640.5B |
| P/E (trailing) | 14.9 | 30.9 |
| Dividend yield | 3.71% | 1.94% |
| Sector / category | Health Care | Health Care |
Year-by-year returns
| Year | BMY | JNJ |
|---|---|---|
| 2022 | +19.0% | +6.0% |
| 2023 | -26.1% | -8.6% |
| 2024 | +15.8% | -4.8% |
| 2025 | +0.1% | +47.5% |
| 2026 | +28.3% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and JNJ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BMY and JNJ?
The BMY/JNJ correlation stands at 0.43 on a 3-year window (1 year: 0.39, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is JNJ a good diversifier for BMY?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bmy-vs-jnj.json
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[](https://www.pairbook.io/pair/bmy-vs-jnj/)
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Related comparisons
Hubs: BMY correlations · JNJ correlations
